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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: RetiredNow who wrote (18213)	10/15/1998 3:22:00 PM
From: TimeToMakeTheInvs	Read Replies (1) \| Respond to of 77397

.25 point rate cut I hear. tim

To: RetiredNow who wrote (18213)	10/16/1998 12:04:00 AM
From: JH	Respond to of 77397

<John, consider that a cheap lesson learned. Never bet against Cisco> Buying some puts on CSCO hardly qualifies as betting "against" CSCO. I have a core postition in CSCO, and at the time I thought it was a worthwhile risk/reward to establish a short term hedge. Since I could not stay up all night to monitor my position, the proper action to take was to set a stop. Anything could have happened... who anticipated the Fed to cut rates? In fact, these puts were trading momentarily at $1-11/16 when CSCO dipped at 3:15. My position which cost $1-1/8 would have been +50% at that point!